New Loan Help

Discussion in 'Chit Chat' started by zook, Sep 14, 2010.

  1. zook

    zook

    Hey guys, I need help on this loan. Can anyone compare this for me? An excel spread sheet would be best if not feel free to post results.
    Thanks,
    Zook :0

    Bank 1

    Loan amount: $3,250,000
    Term: 60 months
    Repayment: Monthly payments of principal plus interest based on a 20 year amortization.
    Rate: 1 month LIBOR+3.25%, fixed with a SWAP (current all in rate is approximately 5.09%)
    Fee: 1.00%
    Guarantee: Non-Recourse except for standard carve outs.


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    Bank 2

    Loan - $2,900,000
    Future Advance Option - $350,000
    Rate - 6.10%
    Term - 33 months with 3 year extension option with a re-price (3 year LIBOR Swap Rate + 325 bps; not to be less than 6.10%)

    Amortization - 20 years
    Guarantee - Partner 1 & Partner 2 limited to 25% each
    Prepayment Penalty - $0
    Fee - 0.50% ($14,500); 0.50% on Future Advance Funds
    Monthly Payment ($2,900,000 loan) - $21,093.87
    Annual Debt Service ($2,900,000 loan) - $253,127